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20121201
20121231
Search Results 0 to 7 of about 8 (some duplicates have been removed)
things that are important until they're not. we were terrified that spain and italy couldn't pay their bills. we knew these companies could not bring down taxes. it turns out that we were afraid that these bonds were bringing the whole world down and we should have been buying them. the europeans offered sensible plans and responsible governments stepped up to increase taxes and cut benefits. if you had been able to borrow a ton of money to buy them it would have doubled. it may have been the single best investment of the 21st century to date. we are gripped by a similar hysteria about our own country. the fiscal cliff is like what they had in europe. we need to look for companies being obliterated by the cliff. banco santander was perceived to be the biggest loser. but it turned out to be an amazing trade. the stock traveled to $7.72. i don't think it's done. charitable trust is buying a major midwestern lender. stock has been sliding every day. key is now under $8 and i can tell from the trading in the name it is not going to happen just yet. there are sellers everywhere. the o
that italy and greece would be following in disaster. of course, they subsequently turned out to be the single best places to invest for fixed income in the world. not only did the sky not fall, but you had to do some serious buying to keep up with the others around the world. we have been buying an etf for my travel trust. was there a more uniform agreement than the idea that the euro had to die and the weaker countries were going into a fre depression? we know a ton of countries that could do very well in a low-growth environment. a year ago all the wise guys were telling us to avoid china because it was a house of cards. the course only grew more uniform with the chinese market falling to multiyear lows. but in the last few weeks, china's economy bottomed during the summer as they were focused way too much on beating inflation. now it's become the best performer in the world, and i don't think you've missed the move which is why my trust has been buying an etf that mimics china. finally there's apple. we've become addicted to apple. we are deeply focused on its decline whic
? we believe that every time italy and spain would have to raise money, do those deals, interest rates would shoot through the roof, bankrupting all involved, sovereign countries, companies, banks. instead, by letting cooler heads prevail through can kicking, smart private sector investors kicked the tires, not the cans, and they bought the debt. hit home runs every time they did. as rates came down hard, courtesy of bank backstop that did work. the europeans realized if they stopped the can kicking game cold like so many investors claimed they had to do, well, europe would go into severe depression. they didn't want that kind of austerity, their leaders bought time by kicking the can and that's what was most needed, time. they bought time. how well did it work? considering rates are not only not dramatically higher, they're dramatically lower, and the euro right now, strongest currency in the world. hmm, i thought the euro was supposed to vanish by this time with the secret sellers around the country. i thought greece was supposed to be kicked out of the union. instead, my advice, do
or italy that the comes back with a vengeance and the s&p gets bashed down by a torrent of selling. that's why it's so important to prepare yourself and your stocks for the next catastrophe around the corner. expected or unexpected, so that you can make money in any market, or at least lose less and not just when things are going smoothly. you have to build this stuff into what i call your world view. you have to assume that somewhere, sometime, something will go wrong. i'm not saying you should be a super skeptic perma-bear, not at all. over the course of my 31-plus years in this business i've seen the averages climb way too way, watched the market make people way too much money to ever be that cynical and close-minded. being negative all the time has not historically been a lucrative strategy, and i don't see any reason why that should change now. there are a handful of incredibly smart, professional short sellers, hats off, able to turn pessimism into profits but i don't recommend trying to follow in their footsteps at home. i never recommend short selling on this show because it's in
Search Results 0 to 7 of about 8 (some duplicates have been removed)

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